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    525-527 Ashland Ave Chicago, IL 60622

    For Sale
    $1,400,000

    Prime Chicago location, high potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional mixed-use investment opportunity presents a compelling value-add proposition. Located at 525-527 N. Ashland Ave in Chicago, IL, this property boasts a prime location near the intersection of Grand and Ashland Avenues. The offering encompasses two buildings, constructed in 1879, each two stories high, totaling four units across a combined footprint. Currently operating at 50% occupancy with two tenants under a gross lease structure, the property generates a net operating income (NOI) of $4,400 annually, yielding a 0.31% cap rate. The asking price is $1,400,000, representing a fee simple ownership opportunity. The property is zoned for commercial use and is currently bank-owned, offering a unique foreclosure opportunity. Seller financing is available with a 30-year fixed mortgage requiring a 20% down payment. The seller covers all closing costs and there are no outstanding violation fees. The property is sold "as is," with limited additional information available for review. This presents a strong potential for increased profitability through improved occupancy and management. The property's location in a busy commercial area offers significant upside for the right buyer.

    Property Features for 525-527 Ashland Ave

    General Information

    Property type
    Individual retail properties
    Class
    B

    Building Details

    Year Built
    1879
    Buildings
    2
    Stories
    2
    Units
    4

    HighLights

    • Exceptional investment opportunity with strong ROI.
    • Seller financing available with a 30‑year fixed‑rate mortgage.
    • Contact broker for details.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Accounting Firm Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.666899035437
    Latitude
    41.891820174141

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    FAQs

    What type of property is this?
    Individual retail property - Prime Chicago location, high potential.
    Where is this individual retail property located?
    The property is located at 525-527 Ashland Ave Chicago, IL.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity with strong ROI.; Seller financing available with a 30-year fixed-rate mortgage.; Contact broker for details.
    Request Owner's contact information
    525-527 Ashland Ave Chicago, IL 60622
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    Chicago, IL 60622
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    525-527 Ashland Ave Chicago, IL 60622
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